Wednesday, May 22, 2024

Past island investor’s company in the U.S. raided in alleged Ponzi scheme


The company of a Steve Parish in Kansas, United States (U.S.), which relates to real estate deals in Belize, has reportedly been raided and shut down. According to reports, a restraining order was issued for possible links with an alleged ponzi scheme. Parish was not found during the raid, and while U.S. authorities claim that he did business in Belize, the only records showing such a name was an unauthorized construction development on the northwestern part of Ambergris Caye, near Secret Beach. The project was issued a cessation order from the Mining Unit in November 2019 after discovering that the high scale dredging within the Hol Chan Marine Reserve (HCMR) had no permits.

Illegal Dredging

The project was reportedly shut down in September 2020. The massive construction plan was said to be for a subdivision comprising several lots along the coast. But the project was found illegal, as the management team at HCMR learned that it had no permits from the Mining Unit to do any dredging, nor did it have any environmental clearance from the Department of Environment to do anything on the ground. HCMR issued a Cease-and-Desist Order, and employees found on the said construction site were detained by police and later released on station bail.

Following the damage assessment, HCMR went after Parish, seeking restitution of over $100,000 for harm to the maritime ecosystem. Hol Chan said they are still fighting to have the development pay the fees and their only contact with Parish is through his attorney. However, Hol Chan stated that no work is permitted at the unauthorized construction site; it should remain inactive. If any activities occur, those involved will be dealt with according to the law.
Parish Alleged involvement in Ponzi Scheme in the U.S.
The company under Parish, Premier Global Corporation, is based in Derby, Kansas and has been operating for 22 years. A report from November 3rd indicated a restraining order issued froze the assets and suspended operations of the said business establishment. The order was issued because a judge reportedly said there was a clear threat of immediate and irreparable injury and a risk that such assets and funds could be dissipated.
According to court documents, the Kansas and Oklahoma securities commissioners had filed civil suits against the company and several defendants, including the manager/owner Steven Parish, for running the alleged Ponzi scheme.
( Court documents.
The accusation from the authorities says Parish and other associates raised about US$100 million from at least 570 investors from 15 different U.S. states. They were also guaranteed returns, but according to court documents, Premier Global Corporation and Parish transferred funds to 21 other bank accounts and used the money in real estate businesses in Belize and Las Vegas, Nevada, U.S.A. Additionally, those funds reportedly sponsored lavish expenses for Parish and his family, with which they acquired homes, condos, and even airplanes.
The U.S. authorities following the case have shared with the local media that the last time anyone spoke to Parish was October 16th in San Diego, California, U.S.A. Parish is reportedly nowhere to be found, and his wife has filed a missing person report with law enforcement.
Will continue to follow.

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